Financial Services Growth Capital Investments in 2025
Acquisition Volume in Financial Services Growth Capital Investments in 2025 by Year
Last 5 years
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- Buyer
- Blackstone GP Stakes (Blackstone), Blue Owl GP Strategic Capital (Blue Owl)
- Target
- Atlas Holdings
- Industry
- Financial Services
- Location
- Connecticut, United States
- Type
- Growth capital
Blackstone (via Blackstone GP Stakes) and Blue Owl (via Blue Owl GP Strategic Capital) announced a strategic minority investment in Atlas Holdings. Atlas Holdings is a Greenwich, Connecticut–headquartered owner-operator platform that owns and operates a diversified set of industrial, manufacturing, and distribution businesses.
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December 11, 2025
- Buyer
- ETHZilla Corporation
- Target
- Karus
- Industry
- Financial Services
- Location
- United States
- Type
- Growth capital
ETHZilla Corporation purchased a 20% fully diluted stake in Karus for $3 million in cash and $7 million in ETHZilla common stock, valuing the strategic interest at $10 million. The investment gives ETHZilla board representation and governance rights and will integrate Karus's AI-driven auto-loan underwriting and analytics into ETHZilla's blockchain tokenization infrastructure to launch AI-modeled tokenized auto-loan portfolios beginning in early 2026.
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December 6, 2025
- Buyer
- Summit Financial
- Target
- Ivy Wealth Management
- Industry
- Financial Services
- Location
- Rhode Island, United States
- Type
- Growth capital
Summit Financial has made a minority investment in Ivy Wealth Management, a West Warwick, Rhode Island-based registered investment advisor that oversees more than $500 million in client assets. The deal expands Summit’s national RIA platform and strengthens its presence in the Northeast while allowing Ivy’s principals to retain operational control and access Summit’s capital, technology and investment-management resources.
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- Buyer
- Castle Creek Capital (affiliates / Castle Creek managed funds)
- Target
- FirstSun Capital Bancorp
- Seller
- Legacy stockholders
- Industry
- Financial Services
- Location
- Colorado, United States
- Type
- Growth capital
Affiliates of Castle Creek Capital acquired $40 million of common stock in FirstSun Capital Bancorp from legacy stockholders, becoming one of the company's largest institutional shareholders with roughly a 4% stake. The investment is intended to support FirstSun as it pursues a proposed merger with First Foundation Inc. and Castle Creek expects to join the company's board subject to regulatory and closing conditions.
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November 19, 2025
- Buyer
- MS&AD Insurance Group Holdings, Mitsui Sumitomo Insurance (MSI)
- Target
- Barings
- Seller
- MassMutual
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Growth capital
MS&AD Insurance Group Holdings, through Mitsui Sumitomo Insurance (MSI), will acquire an 18% equity stake in Barings from MassMutual for about $1.44 billion in cash proceeds. MassMutual will retain an 82% stake and controlling governance rights, while Barings continues operating as an independent subsidiary under MassMutual.
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November 4, 2025
- Buyer
- State Street Investment Management
- Target
- Coller Capital
- Industry
- Financial Services
- Location
- United Kingdom
- Type
- Growth capital
State Street Investment Management has made a strategic minority investment in Coller Capital, a leading private markets secondaries manager, to broaden client access to private market secondaries and support Coller's growth. The minority investment preserves Coller’s operational independence while deepening State Street’s capabilities and distribution in private markets for institutional and wealth clients.
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October 27, 2025
- Buyer
- PSG, Canapi Ventures, Spectrum Equity
- Target
- SavvyMoney
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
SavvyMoney, a Dublin, California–based provider of credit-score and financial wellness software for banks and fintechs, raised a $225 million minority investment co-led by PSG and Canapi Ventures, with continued investment from Spectrum Equity. The capital will accelerate SavvyMoney’s product roadmap, AI capabilities and go-to-market expansion across its network of more than 1,500 financial institution partners.
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September 30, 2025
- Buyer
- Ares Management Private Equity funds, Berkshire Partners
- Target
- EP Wealth Advisors
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
Ares Management Private Equity funds have signed a definitive agreement to acquire a significant minority stake in EP Wealth Advisors, joining Berkshire Partners as an existing minority equity partner. The investment is expected to be completed in October 2025 and will provide growth capital and strategic support for EP Wealth’s talent, technology, client-facing offerings, and future M&A partnerships.
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September 16, 2025
- Buyer
- Inveniam Capital Partners
- Target
- Rialto Markets
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Growth capital
Inveniam Capital Partners has acquired a 20% ownership stake in Rialto Markets as part of a strategic partnership to build a blockchain-based derivatives exchange for tokenized private market assets. The deal combines Inveniam's decentralized data infrastructure with Rialto's SEC-registered ATS and broker-dealer capabilities to enable tradable futures, swaps, and structured products backed by tokenized private securities, aiming to improve liquidity, compliance, and transparency for institutional investors.
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September 7, 2025
- Buyer
- Hunter Point Capital, Temasek
- Target
- Nuveen Private Capital
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Growth capital
Hunter Point Capital and Temasek have made minority investments in Nuveen Private Capital, providing equity and long-term capital commitments to support the platform's growth. Nuveen will retain majority ownership while Churchill and Arcmont senior leadership and employees keep meaningful stakes; the partnership is intended to scale Nuveen Private Capital's private credit capabilities across geographies and strategies.
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September 4, 2025
- Buyer
- Cantilever Group
- Target
- Tecum Capital
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Type
- Growth capital
Cantilever Group has made a minority equity investment in Tecum Capital to support Tecum's expansion and strategic growth initiatives within the SBIC and lower-middle-market private credit space. Tecum's existing management will remain in place as the firm leverages Cantilever's capital and resources to build its leadership position and invest in team and platform growth.
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September 3, 2025
- Buyer
- Merchant
- Target
- Validus Capital
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
Merchant has entered a partnership with Validus Capital, a Los Angeles–based registered investment adviser managing roughly $2.5 billion, to provide growth capital and strategic resources. The capital will support Validus’s plans to expand alternatives distribution and reporting capabilities, attract advisors to its platform, and scale its multi-family office services.
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- Buyer
- Cresset
- Target
- Monticello Associates
- Industry
- Financial Services
- Location
- Colorado, United States
- Type
- Growth capital
Cresset, a multi-family office, announced a strategic partnership with Monticello Associates to expand Cresset’s institutional investment advisory capabilities. The Monticello Associates team will join Cresset, and the combined entity is expected to manage nearly $200 billion in assets, with the transaction expected to close later in 2025.
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August 11, 2025
- Buyer
- Kayne Anderson BDC, Inc.
- Target
- SG Credit Partners, Inc.
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
Kayne Anderson BDC, Inc. made a strategic financing and equity investment in SG Credit Partners, providing an $80 million term loan, a $34 million delayed-draw term loan facility, and a $12 million common equity investment. Following the transaction, KBDC owns a 22.5% equity stake in SG Credit and has an option to purchase additional equity, a move KBDC said complements and expands its direct lending and origination platform.
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- Buyer
- BW Forsyth Partners
- Target
- Matter Family Office, IWP Family Office
- Industry
- Financial Services
- Location
- United States
- Type
- Growth capital
Matter Family Office and IWP Family Office have merged to form a single multi-family office platform serving ultra-high-net-worth families, combining more than 90 professionals across St. Louis, Denver, and Dallas–Fort Worth and over $10 billion in assets under advisement. The transaction is supported by an investment from BW Forsyth Partners, which provided strategic capital to scale the combined firm's capabilities and services.
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August 7, 2025
- Buyer
- Bahrain Mumtalakat Holding Company
- Target
- BlueFive Capital
- Industry
- Financial Services
- Location
- United Arab Emirates
- Type
- Growth capital
Bahrain Mumtalakat Holding Company has acquired a strategic minority stake in BlueFive Capital, a global investment platform, with financial terms undisclosed. The investment follows BlueFive's closing of its Founding Shareholders Circle and provides long-term institutional backing to support the firm's international expansion and growth initiatives.
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- Buyer
- Bakkt Holdings, Inc., Bakkt OpCo Holdings, LLC
- Target
- MarushoHotta Co., Ltd. (MHT)
- Seller
- RIZAP Group, Inc.
- Industry
- Financial Services
- Location
- Japan
- Type
- Growth capital
Bakkt Holdings entered into a share purchase agreement with RIZAP Group to acquire ~30% of MarushoHotta Co., Ltd., making Bakkt its largest shareholder. The transaction is expected to position the renamed bitcoin.jp for a Bitcoin-focused treasury strategy, with Phillip Lord taking over as CEO of MHT.
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August 4, 2025
- Buyer
- Apollo Global Management, BlackRock, J.P. Morgan Asset Management, Kayne Anderson Capital Advisors, Composition Capital, GeoWealth
- Target
- GeoWealth
- Seller
- Freedom Advisors
- Industry
- Financial Services
- Location
- Illinois, United States
- Type
- Growth capital
GeoWealth raised $38 million in a Series C round led by Apollo, with participation from BlackRock, J.P. Morgan Asset Management and Kayne Anderson (sub-advised by Composition Capital), to accelerate its UMA and public-private model portfolio capabilities. In conjunction with the funding, GeoWealth formed a strategic partnership with Apollo and completed the acquisition of TAMP assets from Freedom Advisors to strengthen its product and operations offering for RIAs.
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- Buyer
- Origami Capital Partners
- Target
- Coromandel Capital
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
Origami Capital Partners announced a strategic partnership with Coromandel Capital under which Origami will provide capital and support to accelerate Coromandel’s lending programs and scale its origination capacity. Coromandel, a Los Angeles-based private credit firm focused on asset-backed lending for FinTech and specialty finance, will continue to focus on self-liquidating asset pools with Origami’s backing.
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July 16, 2025
- Buyer
- Warburg Pincus, Bain Capital Insurance
- Target
- Keystone Agency Partners
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Type
- Growth capital
Warburg Pincus will acquire a majority stake in Keystone Agency Partners through a private transaction. Bain Capital, which originally launched Keystone in 2020, will retain a minority position via a new investment from Bain Capital Insurance, and the deal is expected to close in Q3 2025 subject to regulatory approvals.
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- Buyer
- Esta Investments Pte. Ltd., Temasek
- Target
- Tikehau Capital
- Seller
- Tikehau Capital Advisors
- Industry
- Financial Services
- Location
- France
- Type
- Growth capital
Esta Investments Pte. Ltd., an investment vehicle controlled by Singapore’s Temasek, informed Tikehau Capital that it crossed the 5% statutory threshold following a share swap with Tikehau Capital Advisors. As of 4 July 2025, Esta Investments holds a 5.46% stake in Tikehau Capital under the terms of their 2016 agreements.
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- Buyer
- PACT Capital Partners
- Target
- Graham Partners
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Type
- Growth capital
PACT Capital Partners completed a passive, non-voting minority balance-sheet investment in Graham Partners to provide long-term capital and enable broader team ownership participation. The investment will fund Graham’s organizational initiatives, including formation of Centers of Excellence and an internal Management Committee, while Graham’s day-to-day operations remain unchanged.
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June 18, 2025
- Buyer
- PACT Capital Partners
- Target
- Accel-KKR
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
PACT Capital Partners has made a minority equity investment in Accel-KKR. Proceeds will be used to increase Accel-KKR's capital commitments and support the firm's growth and capabilities; no proceeds are being distributed to Accel-KKR principals and specific terms were not disclosed.
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- Buyer
- IK Partners (IK Small Cap III Fund)
- Target
- Kestrel Capital
- Industry
- Financial Services
- Location
- County Dublin, Ireland
- Type
- Growth capital
IK Partners' IK Small Cap III fund has signed an agreement to invest in Dublin-headquartered wealth manager Kestrel Capital alongside the company's existing owners. The minority development-capital investment will support Kestrel's growth — expanding services, investing in operations and pursuing selective add-on acquisitions as the firm builds on its more than €1bn in assets under management.
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- Buyer
- Vertis Capital Partners
- Target
- DunPort Capital Management
- Industry
- Financial Services
- Location
- Dublin, Ireland
- Type
- Growth capital
Vertis Capital Partners has taken an initial minority stake in Dublin-based DunPort Capital Management to support the firm’s fundraising and expansion across continental Europe. The partnership will leverage Vertis' institutional relationships and Henry Costa Partners' structuring expertise to accelerate DunPort's Willow Corporate Credit fundraise and broaden its lending platform into Benelux, DACH and Nordic markets.
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- Buyer
- TA Associates
- Target
- Kline Hill Partners
- Industry
- Financial Services
- Location
- Connecticut, United States
- Type
- Growth capital
Kline Hill Partners, a private equity secondary market investment firm, announced a strategic minority investment from TA Associates. The deal is intended to support Kline Hill’s continued specialization at scale and is expected to close in the second quarter of 2025, subject to customary closing conditions.
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- Buyer
- Currant Sea Investments B.V., Warburg Pincus LLC, Platinum Invictus B 2025 RSC Limited, Abu Dhabi Investment Authority (ADIA)
- Target
- IDFC FIRST Bank
- Industry
- Financial Services
- Location
- Maharashtra, India
- Type
- Growth capital
IDFC FIRST Bank approved a preferential issue of convertible preference shares totaling approximately Rs. 7,500 crore: ~Rs. 4,876 crore to Currant Sea Investments B.V. (an affiliate of Warburg Pincus) and ~Rs. 2,624 crore to Platinum Invictus B 2025 RSC Limited (a wholly owned subsidiary of ADIA). The capital raise, subject to shareholder and regulatory approvals, will strengthen the bank’s capital adequacy (CET-1 and overall ratios) and support its next phase of growth.
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April 16, 2025
- Buyer
- Sagard
- Target
- BEX Capital
- Industry
- Financial Services
- Location
- France
- Type
- Growth capital
Sagard, a global alternative asset manager, has signed a definitive agreement to acquire a strategic stake in BEX Capital, a specialized private equity secondaries investment firm. The partnership is intended to expand Sagard’s Private Equity Solutions platform by adding BEX’s expertise in fund-of-funds and secondaries. The transaction is expected to close in the coming weeks, subject to regulatory approvals and customary conditions.
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- Buyer
- Bain Capital
- Target
- Lincoln Financial (Lincoln National Corporation / LNC equity), Lincoln National Corporation (LNC) (selling shares)
- Seller
- Lincoln National Corporation (LNC)
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Type
- Growth capital
Bain Capital will acquire a 9.9% equity stake in Lincoln Financial (via Lincoln National Corporation) for $825 million in an all-cash transaction. The parties also agreed to a 10-year, non-exclusive strategic investment management relationship, with Bain becoming an investment manager across multiple asset classes to provide growth capital and value creation support.
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March 19, 2025
- Buyer
- Turning Rock Partners
- Target
- SilverLeaf Wealth Management
- Industry
- Financial Services
- Location
- Nebraska, United States
- Type
- Growth capital
Turning Rock Partners, a New York-based private investment firm, has provided $30 million in secured expansion financing to SilverLeaf Wealth Management, an independent wealth advisory firm headquartered in Omaha, Nebraska. The capital will support SilverLeaf's growth plan — including its acquisition strategy — and help the firm expand services to a broader client base.
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February 19, 2025
- Buyer
- Rise Growth Partners, Charlesbank Capital Partners
- Target
- Grimes & Company, LLC
- Industry
- Financial Services
- Location
- Massachusetts, United States
- Type
- Growth capital
Rise Growth Partners acquired a strategic minority stake in Grimes & Company, a family-owned wealth management firm with about $5.7 billion AUM that serves ~3,000 households. The investment — supported by a strategic commitment from Charlesbank Capital Partners to Rise — is intended to accelerate Grimes' geographic expansion, enhance its centralized planning capabilities and attract growth-focused advisor teams while preserving the firm's independence and culture.
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February 10, 2025
- Buyer
- FTV Capital
- Target
- Validus Risk Management
- Industry
- Financial Services
- Location
- England, United Kingdom
- Type
- Growth capital
Validus Risk Management, a London-based provider of risk-management software and tech-enabled services for private capital managers, received a $45 million minority growth equity investment from FTV Capital. The capital will be used to accelerate go-to-market efforts, expand into the United States and APAC, and fund technology and product innovation; FTV partner Mike Cichowski will join Validus' board.
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February 6, 2025
- Buyer
- Warburg Pincus Capital Solutions Founders Fund (WPCS FF) / Warburg Pincus
- Target
- DriveCentric, Excelitas Technologies, Mashura, MB2 Dental, MIAX, Nord Security, Service Compression, United Trust Bank, Unnamed industrial distribution platform
- Industry
- Financial Services
- Location
- United States
- Type
- Growth capital
Warburg Pincus’ inaugural Warburg Pincus Capital Solutions Founders Fund (WPCS FF) announced it deployed over $1 billion of capital in 2024 across nine strategic structured investments, including stakes in DriveCentric, Excelitas Technologies, Mashura, MB2 Dental, MIAX, Nord Security, Service Compression, United Trust Bank and an unnamed industrial distribution platform. The deployments were made from WPCS FF (anchored by an ADIA subsidiary) to provide tailored capital solutions to growth-stage companies across the firm’s core sectors.
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- Buyer
- OneDigital
- Target
- PWL Capital
- Industry
- Financial Services
- Location
- Quebec, Canada
- Type
- Growth capital
OneDigital has made a strategic investment in PWL Capital, a Montreal-headquartered independent wealth management firm, marking OneDigital's first international expansion into Canada. PWL will transition to the OneDigital brand and continue operating as an independent subsidiary, leveraging OneDigital's resources to expand its client offerings across Canada.
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- Buyer
- Wafra Inc., Capital Constellation
- Target
- Niobrara Capital
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Growth capital
Wafra Inc., via its Capital Constellation platform, announced a strategic (minority) investment in Niobrara Capital, a newly formed private equity firm focused on technology and technology-enabled services in North America and Europe. The investment will support Niobrara’s growth as it builds its platform and executes on debut and follow-on investments in mid-market B2B technology companies.
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January 22, 2025
- Buyer
- Obvious Ventures, Burst Capital, FJ Labs, Fluent Ventures, Spencer Rascoff (via 75 & Sunny), Divergent Capital, Bloomberg Beta, Zeno Ventures, Giant Ventures
- Target
- Baton
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Growth capital
Baton, a New York–based marketplace for small and medium-sized business acquisitions, raised $10 million in a Series A led by Obvious Ventures with participation from Burst Capital, FJ Labs, Fluent Ventures, Spencer Rascoff (via 75 & Sunny), and other investors. The funding will be used to accelerate growth of Baton's marketplace, expand listings and platform capabilities, and support more SMB owners through the sale process.
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January 13, 2025
- Buyer
- GTCR
- Target
- Winged Keel Group
- Industry
- Financial Services
- Location
- United States
- Type
- Growth capital
GTCR, a private equity firm, agreed to make a strategic investment in Winged Keel Group, becoming its majority stakeholder. The deal is expected to close in early 2025 and will help Winged Keel scale its life insurance brokerage platform and technology/data strategy while continuing its geographic expansion.
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January 7, 2025
- Buyer
- Vistara Growth
- Target
- Matic Insurance Services Inc.
- Industry
- Financial Services
- Location
- Ohio, United States
- Type
- Growth capital
Matic Insurance Services Inc. secured $30 million in growth capital from Vistara Growth to accelerate the expansion of its embedded insurtech platform. The financing will be used to broaden distribution partnerships, continue development of Matic's proprietary technology, and enhance customer experience across mortgage, banking and other financial partners.
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- Buyer
- Aquiline
- Target
- Catalyst Global Financial Group
- Industry
- Financial Services
- Type
- Growth capital
Catalyst Global Financial Group, an international financial services and technology firm offering fund administration and client accounting services, announced a growth investment from Aquiline (subject to CIMA approval). The capital injection is intended to support scaling, investment in people and technology, and expansion of Catalyst’s market reach.
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January 7, 2025
- Buyer
- Northwestern Mutual
- Target
- Sixth Street
- Industry
- Financial Services
- Location
- California, United States
- Type
- Growth capital
Northwestern Mutual has entered a strategic partnership with Sixth Street in which Northwestern Mutual will acquire a minority equity interest in Sixth Street and commit to have Sixth Street manage $13 billion of assets, with potential to scale. The agreement expands Northwestern Mutual's access to private and opportunistic investments while providing Sixth Street with a strategic institutional investor relationship.
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